I thought I would send out a quick note on COH and USB regarding the nice move up in price on both stocks. Not that we need the extra margin or buying power, but we can place bids at $0.05 and cover both short puts if executed. Another thing to note is that we can sell the short calls on COH and make it more of a market neutral position.
I think that we need to get at least $0.45 to make the trade worth while. Which means that the stock price will need to move up a little more. The technical resistance is at the 200 DMA (36.88) and then at 37.99.